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The EU: good for the UK says the CBI

The Conservatives have pledged that, if they win the next election, they will hold a referendum in 2017 on whether or not the UK should remain in the EU. The Prime Minister has also said that he will renegotiate the terms of UK membership and push for reforms to the EU to cut administrative costs, reduce intervention and make the EU more competitive. We are likely to be bombarded with arguments for and against membership over the coming months.

In a contribution to the debate, the CBI has just published research showing that membership of the EU benefits the UK by up to £78 billion per year – £3000 per household. It also conducted a poll of its members which shows that the vast majority (78%, including 77% of SMEs) want to remain part of the EU, believing that membership brings net benefits to their business and the economy more generally.

However, as the Director-General of the CBI, John Cridland, said:

But the EU isn’t perfect and there is a growing unease about the creeping extension of EU authority. Europe has to become more open, competitive and outward looking if we are to grow and create opportunities and jobs for all our citizens.